House of Mouse’s Interactive sector sees lower operating results due to decline in console games and no new releases in the quarter.
Disney’s Interactive division–which houses the company’s gaming business–posted a loss of $58 million for the quarter ended June 29, the entertainment giant has announced as part of its latest earnings report.
The $58 million loss was worse than the $42 million loss the company recorded in the April-June quarter last year. Disney Interactive revenues for the period fell 7 percent to $183 million, compared to $196 million last year.
Lower operating results were attributed to lower minimum guarantee recognition, a decline in console game sales (Disney released no new console games in the quarter), and a decrease in the company’s social game business. These decreases were offset partially by growth at Disney’s Japanese mobile business.
Disney Interactive was the only Disney business unit to post a loss for the quarter. The company’s Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products divisions all were in the black for the April-June period.
The company has two major console games on the horizon: this month’s Disney Infinity and 2014’s Fantasia: Music Evolved, from Guitar Hero and Rock Band creators Harmonix. In a post-earnings financial call, Disney CEO Bob Iger spoke highly of Disney Infinity.
“We are also looking forward to the launch of Disney Infinity on August 18,” Iger said. “We have showcased Infinity to a number of audiences and we are very encouraged by the overwhelmingly positive response we are getting across the board from retailers, reviewers, and consumers alike. And we are also very proud of the several best of awards that Disney Infinity earned at this year’s E3.”
For more on Disney Infinity, check out GameSpot’s previous coverage.
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